Neo Ivy Capital Management Takes Position in Quest Diagnostics Incorporated (NYSE:DGX)

Neo Ivy Capital Management acquired a new stake in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 24,681 shares of the medical research company's stock, valued at approximately $3,723,000.

Other institutional investors have also recently bought and sold shares of the company. Vega Investment Solutions bought a new position in Quest Diagnostics during the fourth quarter valued at about $1,133,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Quest Diagnostics by 14.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,002,379 shares of the medical research company's stock valued at $151,219,000 after acquiring an additional 128,285 shares during the last quarter. Woodline Partners LP grew its position in shares of Quest Diagnostics by 6.7% during the 4th quarter. Woodline Partners LP now owns 504,596 shares of the medical research company's stock valued at $76,123,000 after acquiring an additional 31,535 shares during the period. Victrix Investment Advisors bought a new position in shares of Quest Diagnostics during the 4th quarter valued at approximately $241,000. Finally, Vident Advisory LLC increased its stake in shares of Quest Diagnostics by 31.7% during the 4th quarter. Vident Advisory LLC now owns 2,423 shares of the medical research company's stock worth $366,000 after purchasing an additional 583 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Price Performance

Quest Diagnostics stock traded down $1.87 during mid-day trading on Wednesday, hitting $171.82. 230,361 shares of the company traded hands, compared to its average volume of 989,317. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. Quest Diagnostics Incorporated has a one year low of $135.47 and a one year high of $179.99. The stock has a market cap of $19.18 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.52. The stock has a fifty day moving average price of $170.58 and a 200-day moving average price of $164.45.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The medical research company reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.06. Quest Diagnostics had a net margin of 8.80% and a return on equity of 15.07%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.63 billion. On average, equities analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, July 7th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Monday, July 7th. Quest Diagnostics's dividend payout ratio is currently 40.46%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 824 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $172.61, for a total transaction of $142,230.64. Following the completion of the sale, the executive vice president now directly owns 69,178 shares in the company, valued at $11,940,814.58. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mark E. Delaney sold 874 shares of Quest Diagnostics stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $175.72, for a total value of $153,579.28. Following the completion of the transaction, the senior vice president now owns 8,372 shares in the company, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,985 shares of company stock worth $9,147,802 over the last ninety days. Insiders own 8.16% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DGX. Redburn Atlantic initiated coverage on Quest Diagnostics in a report on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price objective for the company. Barclays increased their target price on shares of Quest Diagnostics from $175.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 23rd. UBS Group boosted their price target on shares of Quest Diagnostics from $166.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Citigroup cut shares of Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 price target on the stock. in a research note on Tuesday, March 4th. Finally, Mizuho lifted their price objective on shares of Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $185.73.

Quest Diagnostics Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.